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27 Aug, 2011

Tough decade may lie ahead for world economy – People’s Daily Online

Many global financial institutions have lowered global and U.S. economic expectations after the U.S. and European debt crises. People are paying more attention the question of when the global economy can shake off a recession after the recent series of events.

Stimulus policies do not work any more.

The world economy is indeed staying low and it may take five to 10 years to recover. Experts, including Ding Yifan, deputy director of the World Development Research Institute of Development Research Center of the State Council, and Guan Jianzhong, chairman of Dagong Global Credit Rating Company, believe that the world economy needs time to bottom out and may even need more than 10 years.

via Tough decade may lie ahead for world economy – People’s Daily Online.